9 Governments Hold $32 Billion in Bitcoin: Here’s What They Do With It
Key takeaways:
Germany completed the sale of its 50,000 Bitcoin (BTC) holdings on July 12, valued at about $3 billion, according to data analytics firm Arkham Intelligence. The German government began the sale through major exchanges at the end of June, which caused the price of BTC to drop by 15%. However, nearly a dozen other governments are also stockpiling Bitcoin.
Bitcoin Treasuries is a website that tracks Bitcoin holdings, purchases, and sells across public and private companies, exchange-traded funds, smart contracts, and central governments. As of July 15, this platform reports that governments worldwide hold a total of 517,414 BTC, valued at approximately $32 billion at current prices.
According to Bitcoin Treasuries, these estimates are based on Securities and Exchange Commission filings, quarterly reports, and press releases. However, despite owning 2.5% of the global BTC supply, which is capped at 21 million, governments are not heavily invested in cryptocurrency. Here is a list of nine governments holding the largest amount of Bitcoin and what they plan to do with it.
Bitcoin holdings : 213,246 BTC
Estimated value: $13.4 billion
The U.S. holds the biggest amount of Bitcoin of any government, much of which was seized from the dark web marketplace Silk Road after authorities shut it down in 2013. Founded by Ross Ulbricht in 2011, the site became one of the earliest adopters of Bitcoin and facilitated peer-to-peer trading of narcotics and other illegal items. Ulbricht is currently serving a life sentence for running the marketplace. Periodically, the U.S. sells the BTC taken from the website following a court order.
Bitcoin holdings : 190,000 BTC
Estimated value : $11.9 billion
China is believed to
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